Counterpoint Mutual Funds LLC Takes Position in Ballard Power Systems, Inc. $BLDP

Counterpoint Mutual Funds LLC acquired a new position in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) in the 1st quarter, Holdings Channel reports. The fund acquired 226,531 shares of the technology company’s stock, valued at approximately $548,000.

A number of other hedge funds have also modified their holdings of the company. Legal & General Group Plc lifted its stake in Ballard Power Systems by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company’s stock valued at $36,486,000 after acquiring an additional 326,505 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Ballard Power Systems by 11.7% during the 3rd quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock worth $17,089,000 after acquiring an additional 657,107 shares in the last quarter. Invesco Ltd. grew its stake in shares of Ballard Power Systems by 48.6% during the 4th quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company’s stock worth $12,621,000 after acquiring an additional 1,625,542 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after purchasing an additional 829,012 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Ballard Power Systems by 204.5% in the fourth quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock worth $10,145,000 after purchasing an additional 2,682,355 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on BLDP shares. National Bank Financial set a $4.75 price objective on shares of Ballard Power Systems and gave the company a “sector perform” rating in a research report on Wednesday, June 24th. Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $3.00 to $5.00 in a report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Monday, April 20th. BMO Capital Markets boosted their price target on Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company upped their price objective on Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $3.59.

Ballard Power Systems Stock Performance

BLDP stock opened at $3.52 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90. The company has a fifty day moving average price of $4.49 and a two-hundred day moving average price of $3.19. Ballard Power Systems, Inc. has a one year low of $1.65 and a one year high of $6.57. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -13.04 and a beta of 2.25.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $18.98 million for the quarter, compared to analyst estimates of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. Equities analysts anticipate that Ballard Power Systems, Inc. will post -0.2 EPS for the current year.

About Ballard Power Systems

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.